March 05, 2020
As per the report titled ‘North America Lyocell Fiber Market Size By Application, Product, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2024’, available with Market Study Report LLC, North America lyocell fiber market is anticipated to record substantial growth through 2024.
Based on the report estimates, North America lyocell fiber market is projected to amass USD 420 million by the year 2024. Increasing demand for lyocell fiber based surgical and feminine products, on account of its high moisture absorption capacity is fueling the market growth. These fibers are extensively used in various surgical products such as absorbent pads, elastic and non-elastic bandages, gauze dressing, wound-contact layer, wipes, and compression bandages as they ensure better hygiene and provide prevention of bacterial growth. Inflowing investment in pharmaceutical & medical industry coupled with the presence of a well-established textile sector is further enhancing the market outlook.
The report cites that staple fiber segment will account for a significant share of North America lyocell fiber market and witness a growth of 8% by the end of 2024, owing to its wide use in manufacturing denims, towels, and casual wear. On the other hand, lyocell cross linked fibers segment is projected to gain 30% market share over the forecast timeline, on account of its extensive use in woven fabric products.
Speaking of the application spectrum, North America lyocell fiber market from apparels segment is anticipated to account for 50% share in the forthcoming years. The growth can be credited to booming exports of apparels in the U.S. and environmental benefits of the product. These products are 100% cellulose, hence biodegradable and have the potential to be re-used and remanufactured, thereby supporting the demand for lyocell fibers from apparels application across North America.
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Major players of North America lyocell fiber market include Lenzing AG, Aditya Birla Group, Linyi Lingying Chemical Fiber, China Populus Textile Limited, and Chonbang Company.
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